Today, The Wall Street Journal reported:
Stimulus Boosted Jobs in 2nd Quarter, CBO Says - WSJ.comThe nonpartisan Congressional Budget Office said Tuesday the Obama administration's economic-stimulus plan has increased the number of employed Americans by between 1.4 million to 3.3 million during the second quarter.
The CBO, in a report released Tuesday, said the Obama administration's American Recovery and Reinvestment Act has lowered the unemployment rate by up to 1.8% and raised the level of gross domestic product by up to 4.5%.
For those who are interested, the full CBO report can be found at:
Note: One may have to cut and paste the CBO's URL in one's address bar in order to access the report.
CBO's estimates of the stimulus plan's effects in 2010 Q2 were:
- The stimulus raised real GDP by 1.7% to 4.5%
- The stimulus lowered the unemployment rate by 0.7 percentage points to 1.8 percentage points
- The stimulus increased the number of employed persons by 1.4 million to 3.3 million
- The stimulus increased the number of full-time equivalent jobs by 2.0 million to 4.8 million vs. what would otherwise have been the case
In any case, this latest assessment should provide ample ammunition for a continuation of the debate concerning what contribution the economic stimulus made.